MONTREAL, Sept. 9, 2026 /PRNewswire/ -- Haivision Systems Inc. ("Haivision" or the "Company") (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced its results for the third quarter and nine-months ended July 31, 2026.

"Revenue performance in the quarter reflected the timing of customer purchasing and deployment cycles, particularly within our Broadcast segment," said Mirko Wicha, President and CEO of Haivision Systems Inc. "Importantly, the fundamentals of our business remain strong. Customer engagement continues to be healthy, and we have a robust pipeline of opportunities across our markets, including a number of larger strategic projects. While extended procurement cycles and the timing of these projects can shift revenue recognition between quarters, we remain confident in the strength of customer demand, the resilience of our business, and our ability to convert our pipeline into sustainable long-term growth."

Q3 2026 Financial Results

   -- Revenue of $34.5 million declined by $0.5 million or 1.4%. 
 
   -- Gross Margins* were 69.4%, compared to 72.0% for the same prior-year 
      quarter. 
 
   -- Total expenses were $25.7 million, an increase of $0.8 million from the 
      same prior-year quarter. 
 
   -- Operating loss for the quarter was $1.7 million compared to operating 
      income of $0.3 million in the prior-year quarter. 
 
   -- Adjusted EBITDA* was $1.5 million, a decrease of $2.0 million from the 
      prior-year quarter. 
 
   -- Adjusted EBITDA Margins* were 4.3% compared to 10.1% for the same 
      prior-year quarter. 

Financial Results for the nine months ended July 31, 2026

   -- Revenue is $102.3 million, an increase of $4.8 million or 5.0%. 
 
   -- Gross Margins* are 69.6%, compared to 72.3% in the same prior-year 
      period. 
 
   -- Total expenses were $76.3 million, an increase of $0.7 million compared 
      to the prior-year period. 
 
   -- Operating loss was $5.0 million comparable to the prior-year period. 
 
   -- Adjusted EBITDA* was $4.4 million, a decrease of $1.3 million from the 
      same prior-year period. 
 
   -- Adjusted EBITDA Margins* are 4.3% compared to 5.9% for the same 
      prior-year period. 

Recent Company Highlights

   -- Haivision wins NAB Product of the Year 2026 award, TV Tech's Best of Show 
      for NAB 2026 award, TVB Europe Best of Show award for NAB 2026, and AV 
      Technology Best of Show Awards at InfoComm 2026 for the Makito ONE video 
      transport platform. 
 
   -- Haivision introduced Kobra, a compact, backpack portable, video 
      operations platform built for tactical, time-critical missions and 
      combines live video, visual feeds and contextual metadata for display in 
      a single operational view. 
 
   -- Haivision launches Falkon X4, the newest addition to its Falkon family of 
      5G mobile video transmitters, purpose-built for remote production for 
      live sports and 24/7 news. 
 
   -- Haivision unveils the Makito ONE, a live contribution platform with 
      H.264, HEVC, JPEG XS and configurable encoding/decoding on a single 
      compact blade. 
 
   -- Haivision named the official video encoder of Minor League Baseball, 
      supporting live streaming and video distribution across 120 teams and 
      more than 8,000 games each season. 
 
   -- Haivision releases seventh annual Broadcast Transformation Report, 
       showcasing key industry shifts and emerging technologies. 
 
   -- Haivision unveils Falkon X2: Pushing the Boundaries of 5G Video 
      Transmission for Live Broadcasting. 
 
   -- Haivision wins NAB Product of the Year 2025 and Best In Show for IBC 2025 
      for the Falkon X2 video transmitter. 
 
   -- Haivision announced the new Kraken X1 Rugged which unleashes 
      uncompromising power and AI-driven intelligence for us in tough 
      operational environments. 
 
   -- Haivision Command 360 video wall solution wins 4-Star Award in 
      the Real-Time Data Sharing category for Best In Show awards at DSEI UK 
      2025. 

"Gross margins in the quarter were impacted by supply-chain challenges. These input costs are increasing faster than customer price adjustments are taking effect, resulting in continued near-term margin compression. Tariffs will further complicate matters." said Dan Rabinowitz, EVP and Chief Financial Officer of Haivision Systems Inc. "As our products tend to be used in mission-critical applications, product availability is a key competitive advantage. Thus, we have made incremental investments in inventory to secure our ability to supply customers."

Financial Results

Revenue for the three months ending July 31, 2026 was $34.5 million, a decrease of $0.5 million or 1.4% from the prior year comparable period. Revenue for the nine months ending July 31, 2026 was $102.3 million, an increase of $4.8 million or 5.0% from the prior year comparable period. Across the broadcast technology market, customers continue to invest, but purchasing behavior has become increasingly disciplined with a focus on demonstratable returns and operating efficiencies. Within the enterprise market, customers' interest in secure, high-quality video solutions remains healthy. Projects tied to mission-critical communications and operational efficiency continue to move forward.

Gross Margins* for the quarter were 69.4%, compared with 72.0% in the prior-year period. Supply chain constraints included sole-source component exposure, extended lead times; supplier de-commitments of planned delivery; higher expedite costs, and market driven component price increases. Demand for AI infrastructure has tightening memory and component supply. For the nine months ended July 31, 2026, Gross Margins* were 69.6%, compared with 72.3% in the prior-year period.

Total expenses for the three months ending July 31, 2026 were $25.7 million, an increase of $0.7 million from the prior-year period. For the nine months ending July 31, 2026, total expenses were $76.3 million, an increase of $0.7 million with the prior-year period. Over the last five quarters, total expenses averaged $25.3 million, which continues to support our view that expenses have largely stabilized at this level.

Net loss for the three months ending July 31, 2026 was $2.1 million, compared with net income of $0.2 million in the prior-year period. The year-over-year decline in gross margin and modest decline in revenue reduced Gross Profits* by $1.2 million, while total expenses increased by $0.7 million. Net loss for the nine months ending July 31, 2026 was $4.1 million, compared with $3.3 million in the prior-year period. Despite lower Gross Margins*, higher year over year revenue increased Gross Profits by $0.7 million and was largely able to offset the $0.7 million increase in total expenses. However, the income tax benefit decreased by $0.9 million, resulting in a net loss decline of $0.8 million.

Adjusted EBITDA* for the three months ending July 31, 2026 was $1.5 million, a decrease of $2.0 million from the prior year comparative period. The Adjusted EBITDA margin* for the three months ending July 31, 2026 was 4.3% compared to 10.1% for the prior year comparative period. Adjusted EBITDA* for the nine months ending July 31, 2026 was $4.4 million, a decrease of $1.3 million from the prior year comparative period. The Adjusted EBITDA margin* for the nine months ending July 31, 2026 was 4.3% compared to 5.9% for the prior year comparative period.

*Measures followed by the suffix "*" in this press release are non-IFRS measures. For the relevant definition, see "Non-IFRS Measures" below. As applicable, a reconciliation of this non-IFRS measure to the most directly comparable IFRS financial measure is included in the tables at the end of this press release and in the Company's management's discussion and analysis for the three months and nine months ended July 31, 2026.

Conference Call Notification

Haivision will hold a conference call to discuss its third quarter and nine months financial results on Thursday, September 10, 2026 at 8:30 am (ET). To register for the call, please use this link https://events.q4inc.com/analyst/863432546?pwd=u3wrxNaV. After registering, confirmation will be sent through email, including dial in details and unique conference call codes for entry.

Financial Statements, Management's Discussion and Analysis and Additional Information

Haivision's consolidated financial statements for the third quarter ended July 31, 2026 (the "Q3 Financial Statements"), the management's discussion and analysis thereon and additional information relating to Haivision and its business can be found under Haivision's profile on SEDAR+ at www.sedarplus.ca. The financial information presented in this release was derived from the Q3 Financial Statements.

Forward-Looking Statements

This release includes "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws, including, without limitation, statements regarding the Company's growth opportunities and its ability to execute on its growth strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations,